Chapter 7
Corporations: The Financial Statements
324
AS-9 (
3
)
True or False: When a public company sells additional common shares to the public, it must
always report the changes in the value of common shares on its statement of changes in
equity. Explain.
AS-10 (
3
)
Briefly discuss the major differences between the statement of retained earnings under ASPE
and the statement of changes in equity under IFRS.
AS-11 (
4
)
List the three types of accounting changes that warrant a prior period adjustment.
